13,498 Shares in ResMed Inc. $RMD Purchased by Fairtree Asset Management Pty Ltd

Fairtree Asset Management Pty Ltd bought a new stake in shares of ResMed Inc. (NYSE:RMD) in the second quarter, according to its most recent Form 13F filing with the SEC. The fund bought 13,498 shares of the medical equipment provider’s stock, valued at approximately $2,630,000. ResMed accounts for 1.0% of Fairtree Asset Management Pty Ltd’s investment portfolio, making the stock its 24th largest position.

Several other institutional investors and hedge funds have also recently bought and sold shares of RMD. BlackRock Inc. bought a new stake in shares of ResMed during the second quarter valued at approximately $2,400,375,000. State Street Corp boosted its position in shares of ResMed by 1.2% during the fourth quarter. State Street Corp now owns 6,625,408 shares of the medical equipment provider’s stock worth $1,595,862,000 after buying an additional 76,244 shares during the period. Bank of New York Mellon Corp grew its holdings in ResMed by 0.7% in the 1st quarter. Bank of New York Mellon Corp now owns 4,925,386 shares of the medical equipment provider’s stock worth $1,105,651,000 after buying an additional 34,732 shares in the last quarter. Geode Capital Management LLC grew its holdings in ResMed by 1.2% in the 4th quarter. Geode Capital Management LLC now owns 4,302,906 shares of the medical equipment provider’s stock worth $1,032,877,000 after buying an additional 51,218 shares in the last quarter. Finally, Morgan Stanley increased its position in ResMed by 25.0% in the 4th quarter. Morgan Stanley now owns 2,891,697 shares of the medical equipment provider’s stock valued at $696,523,000 after acquiring an additional 578,559 shares during the period. Institutional investors own 54.98% of the company’s stock.

ResMed Price Performance

NYSE RMD opened at $228.81 on Friday. ResMed Inc. has a 12 month low of $180.26 and a 12 month high of $293.81. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.10 and a quick ratio of 2.42. The firm has a market capitalization of $33.01 billion, a PE ratio of 21.94, a P/E/G ratio of 1.45 and a beta of 0.76. The company’s 50 day simple moving average is $206.48 and its 200 day simple moving average is $219.98.

ResMed (NYSE:RMD) last announced its earnings results on Thursday, August 6th. The medical equipment provider reported $2.95 EPS for the quarter, topping the consensus estimate of $2.89 by $0.06. The firm had revenue of $1.46 billion for the quarter, compared to analysts’ expectations of $1.46 billion. ResMed had a return on equity of 25.58% and a net margin of 26.94%.The firm’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.55 earnings per share. As a group, equities research analysts forecast that ResMed Inc. will post 12.03 EPS for the current fiscal year.

ResMed Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 24th. Stockholders of record on Thursday, August 20th will be issued a $0.66 dividend. This represents a $2.64 annualized dividend and a dividend yield of 1.2%. This is a positive change from ResMed’s previous quarterly dividend of $0.60. The ex-dividend date is Thursday, August 20th. ResMed’s payout ratio is currently 23.01%.

Insider Activity

In related news, Director Peter C. Farrell sold 8,000 shares of the firm’s stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $225.00, for a total transaction of $1,800,000.00. Following the completion of the transaction, the director owned 52,773 shares of the company’s stock, valued at $11,873,925. This trade represents a 13.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Michael J. Farrell sold 4,991 shares of ResMed stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $205.69, for a total value of $1,026,598.79. Following the transaction, the chief executive officer directly owned 466,256 shares in the company, valued at approximately $95,904,196.64. The trade was a 1.06% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 22,973 shares of company stock valued at $4,885,436 in the last ninety days. Company insiders own 0.65% of the company’s stock.

Analyst Ratings Changes

RMD has been the topic of several recent analyst reports. Morgan Stanley reaffirmed an “equal weight” rating and set a $230.00 target price (down from $286.00) on shares of ResMed in a research note on Wednesday, June 17th. Jefferies Financial Group decreased their price target on ResMed from $240.00 to $225.00 and set a “hold” rating for the company in a research note on Friday, July 10th. KeyCorp lowered their price target on ResMed from $260.00 to $255.00 and set an “overweight” rating on the stock in a report on Friday, August 7th. Rothschild & Co Redburn initiated coverage on shares of ResMed in a research note on Wednesday. They set a “neutral” rating and a $230.00 price objective on the stock. Finally, Wells Fargo & Company reduced their price objective on shares of ResMed from $225.00 to $215.00 and set an “equal weight” rating for the company in a report on Friday, August 7th. Seven investment analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $239.38.

About ResMed

ResMed (NYSE: RMD) is a global medical device and cloud-connectivity company focused on improving outcomes for people with sleep-disordered breathing and chronic respiratory conditions. Founded in 1989, the company is headquartered in San Diego, California, and develops, manufactures and distributes a range of devices and software used by patients, clinicians and providers worldwide.

ResMed’s product portfolio centers on noninvasive ventilation and sleep therapy equipment, including continuous positive airway pressure (CPAP) and bilevel devices, masks and related accessories for the treatment of obstructive sleep apnea and other respiratory disorders.